Overview—We are exposed to interest rate risk, primarily associated with our long-term debt, including current maturities. Additionally, we are exposed to equity price risk related to our exchangeable bonds and currency exchange rate risk related to our international operations. With the exception to the following, there have been no material changes to our market risks as previously disclosed in “Part II. Item 7A. Quantitative and Qualitative Disclosures About Market Risk” in our annual report on Form 10-K for the year ended December 31, 2025. Interest rate risk—The following table presents the scheduled installment amounts and related weighted-average interest rates of our long-term debt instruments by contractual maturity date. The following table presents information as of June 30, 2026 (in millions, except interest rate percentages): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve months ending June 30, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2027 ​ 2028 ​ 2029 ​ 2030 ​ 2031 ​ Thereafter ​ Total ​ ​ ​ Fair value Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed rate (USD) $ 405 ​ $ 332 ​ $ 1,148 ​ $ 729 ​ $ 1,296 ​ $ 1,197 ​ $ 5,107 ​ $ 5,329 ​ Average interest rate ​ ​ 6.90 % ​ 7.58 % ​ 8.27 % ​ 7.28 % ​ 8.19 % ​ 7.44 % ​ ​ ​ ​ ​ ​ At June 30, 2026 and December 31, 2025, the fair value of our outstanding debt was $5.33 billion and $5.76 billion, respectively. During the six months ended June 30, 2026, the fair value of our debt decreased by $426 million due to the following: (a) a decrease of $366 million resulting from redemption of the 8.375% senior secured notes due February 2028 and (b) a decrease of $229 million resulting from the repayment of debt in scheduled installments. These decreases were partially offset by a net increase of $169 million resulting from changes in the market prices of our outstanding debt.